Platinex Inc. announced that it has closed the acquisition of a 100% ownership interest in the W2 Copper-Nickel-PGE Project (the “W2 Project” or “W2”). The W2 Project controls one of the major Oxford Stull Dome complexes and includes over 5 km of strike length of known Cu-Ni-PGE mineralization within a large (9,134 Hectare or 91 km2) land package located near the Ring of Fire. Historical exploration was carried out at W2 (formerly known as the Lansdowne House Property) by operators including Aurora Platinum Corp.

during the 2000s, and Inco Limited, includes the following near surface drill results: Holes assayed for Copper (Cu)-Nickel (Ni) only include: Hole 54017 in zone L-13 drilled 61 m of 1.01% CuEq including 13.1 m of 2.06% CuEq Hole 49182 drilled 20.91 m at 1.63% CuEq These holes were located in Palladium and Platinum (PGE) areas would likely have a higher CuEq if assayed for PGEs. Holes assayed for PGEs (with lower grade Cu-Ni) include: Hole LH-01-02 drilled 42 m at 1.756 g/t PdEq Hole LH-01-06 intersected 81.3 m at 1.196 g/t PdEq Hole LH-01-05 intersected 17 m of 1.86 g/t PdEq Two wider intersections include: Hole LH-01-06 intersected 220.6 m at 0.56% CuEq or 0.956 g/t PdEq Hole LH-01-05 intersected 151.6 m of 0.57% CuEq or 0.971 g/t PdEq. As noted, LH-01-05 contains a 151.6 m mineralized zone which appears to correlate with the mineralization in hole LH-01-06 (220.6 metres).

The two holes are 4 km apart with no intervening drill holes. The apparent correlation of widely spaced holes suggests a high level of continuity in the Cu-Ni-PGE mineralization. LH-01-06 is also close to a Cu-Ni deposit on a small claim package enclosed by the W2 property and appears to be a continuation of that mineralization.

The W2 Project covers 70% of the layered mafic-ultramafic Lansdowne House Igneous Complex (“LHIC”) which is highly prospective for copper-nickel (Cu-Ni) and reef-type platinum group element (PGE) deposits. The widespread Cu-Ni-PGE mineralization is delineated in at least seven significant mineralized zones within a 7.5 km long folded corridor. The common thread of strong Cu-Ni-PGE, Cr and Ti-V mineralization in the mafic ultramafic intrusions ringing the Oxford Stull Dome is suggestive of a common source, a very large magmatic system and therefore a potential significant abundance of the metals in each intrusion.